Inspira Global to Acquire Controlling Stake in Burger King India Operator Restaurant Brands Asia

Business

January 21, 2026

Restaurant Brands Asia Ltd, the master franchisee of Burger King in India and Burger King and Popeyes in Indonesia, is set for a change in ownership as Inspira Global moves in to acquire a controlling stake, marking the exit of private equity firm Everstone Capital from the business it has backed for over a decade.

Under definitive agreements announced on Tuesday, Inspira Global, led by entrepreneur Aayush Madhusudan Agrawal, will take over promoter control from QSR Asia Pte Ltd, which is majority owned by Everstone. The transaction is subject to shareholder and regulatory approvals, including clearance from the Competition Commission of India, and will be carried out in compliance with SEBI takeover norms.

The deal structure includes the acquisition of QSR Asia’s entire 11.26 percent stake in Restaurant Brands Asia for approximately Rs 460 crore. In addition, Inspira Global has committed to a substantial capital infusion, proposing around Rs 900 crore through a preferential allotment of equity shares and a further Rs 600 crore via warrants. These investments will trigger an open offer to public shareholders.

The acquisition will be executed through Lenexis Foodworks Private Limited, Inspira Global’s food and beverage platform, which operates more than 250 Chinese Wok outlets across over 45 Indian cities. The move significantly strengthens Inspira’s footprint in the quick service restaurant sector, adding established global brands to its portfolio.

Restaurant Brands Asia said its existing leadership team, operational framework and brand identities will remain unchanged. The company currently operates over 575 Burger King restaurants in India, making it one of the largest QSR networks in the country.

Industry observers view the transaction as a pivotal moment for the company, providing fresh long-term capital to support store expansion, operational efficiencies and margin improvement in a competitive foodservice market.

For Everstone, the deal represents the conclusion of a long investment cycle that began with the launch of Burger King in India more than 12 years ago. For Inspira Global, it signals a decisive bet on India’s fast-growing organised QSR sector, where scale, execution and patient capital are increasingly critical.

TeinPro Enters India’s Health Food Market With First Protein Bar Backed by Randeep Hooda

Business

SnackTeam

January 21, 2026

TeinPro has entered India’s fast-expanding health food and functional nutrition market with the launch of its first protein bar, marking the brand’s formal debut in the protein and energy foods segment. The company is backed by actor Randeep Hooda as a core investor, alongside founders Chinmay Barik, Raghav Gupta and Kshitij Shokeen, and is positioning itself at the intersection of fitness, everyday nutrition and lifestyle wellness.

The launch comes at a time when protein consumption in India is gradually moving beyond gym-centric use. TeinPro is targeting urban consumers who are looking for convenient nutrition options that fit into long workdays, recovery routines and daily energy needs rather than high-intensity athletic performance alone. The brand’s strategy reflects a broader shift in consumer behaviour, with growing demand for moderation, balance and long-term health benefits.

The protein bar has been developed with a clean-label approach. It contains no added sugar or preservatives and includes ingredients such as magnesium, zinc, antioxidants and ashwagandha, which are commonly associated with energy support, focus and metabolic health. TeinPro is positioning the product as suitable for multiple occasions, including between meals, post-workout, during extended office hours or as a healthier dessert alternative.

India’s protein bar segment remains relatively nascent compared to global markets but is gaining momentum. Industry estimates value the category at over USD 800 million, with projections suggesting it could cross USD 1.2 billion by the end of the decade. Growth is being driven by rising health awareness, urbanisation and the rapid expansion of e-commerce and quick-commerce channels.

TeinPro is entering a competitive space dominated by brands such as RiteBite Max Protein, Yoga Bar, The Whole Truth, HYP and established packaged food players. While many competitors focus on either performance nutrition or healthy snacking, TeinPro is attempting to differentiate itself through a lifestyle-first narrative that blends functional benefits with daily relevance.

The product is currently available across major online and quick-commerce platforms, including Amazon, Flipkart, BigBasket, Zepto, JioMart and Tata 1mg. The company plans to widen its offline retail presence over time to drive trials and visibility.

As competition intensifies, TeinPro’s ability to build brand recall, scale distribution and expand its product range will be critical to carving out space in India’s crowded but rapidly growing health food market.

Swiggy’s Push to Replace ‘Gig Worker’ With ‘Flexible Employment’ Sparks Fresh Labour Debate in India

Business

SnackTeam

January 21, 2026

India’s debate on platform labour has entered a new phase after Swiggy called for the retirement of the term “gig worker”, proposing instead a new classification it describes as “flexible employment”. The suggestion was made at the World Economic Forum in Davos in January 2026 by Rohit Kapoor, chief executive of Swiggy’s food marketplace business, and has since triggered a wider discussion on worker rights, regulation and accountability in the digital economy.

Speaking to global policymakers and industry leaders, Kapoor argued that delivery partners should be recognised as part of a distinct employment category, positioned alongside salaried jobs and entrepreneurship. According to Swiggy, this framework better reflects the nature of platform work, where individuals choose their hours, move between apps and enter or exit the workforce with ease.

The proposal comes at a sensitive moment. Across markets, the gig economy has increasingly been linked with income volatility and limited social protection. In India, platform labour is under sharper scrutiny as the government evaluates implementation of the Social Security Code and other labour reforms.

While companies say flexible employment preserves autonomy and choice, labour experts caution that the change may carry legal consequences. Recognising delivery partners as employees would trigger obligations such as provident fund contributions, paid leave and statutory insurance. A new label, critics argue, could help platforms distance themselves from these responsibilities without materially changing working conditions.

On the ground, delivery work often looks less fluid than advertised. Earnings tend to peak during high demand slots, pushing workers to stay logged in for long hours. Industry surveys suggest many partners work 10 to 12 hours a day, six days a week, a pattern closer to full-time employment than casual work. Income stability remains uncertain as incentive structures change and platform density increases.

Safety nets also remain limited. Insurance coverage is typically restricted to active delivery hours, with no paid leave or income support during illness or downtime. Career progression beyond delivery roles is rare.

Swiggy’s call for a third employment pillar highlights a broader policy challenge. As platform businesses scale, regulators must decide whether flexibility can coexist with minimum protections. The debate is likely to intensify as other companies adopt similar language, shifting focus from terminology to the substance of worker welfare.

United Spirits Q3 FY26 Profit Rises 25% to ₹418 Crore on Strong Premium Portfolio Performance

Growth

SnackTeam

January 21, 2026

Diageo-controlled United Spirits Ltd posted a strong performance in the third quarter of FY26, reporting a sharp rise in profitability despite regulatory and policy challenges in key markets. The country’s largest spirits company reported a consolidated net profit of ₹418 crore for the October to December period, marking a year-on-year increase of nearly 25 percent compared with ₹335 crore in the same quarter last year.

Revenue from operations for the quarter stood at ₹7,942 crore, up 2.7 percent from ₹7,732 crore a year earlier. Total income grew at a similar pace to ₹7,993 crore, reflecting steady demand across most regions. Operating expenses rose modestly by 2.6 percent to ₹7,442 crore, indicating continued cost discipline even as the company invested in brand building and execution.

United Spirits reported a net sales value of ₹3,683 crore in the quarter, registering a growth of 7.3 percent. The company attributed this to strong traction in the higher end of its portfolio, although gains were partially offset by policy related disruptions in Maharashtra and the absence of a one time retail pipeline fill in Andhra Pradesh that had benefited the previous year’s numbers.

Earnings before interest, tax, depreciation and amortisation came in at ₹599 crore, an increase of 5.5 percent, largely driven by the company’s standalone operations. The Prestige and Above segment continued to anchor performance, accounting for around 90 percent of net sales and growing 8.2 percent year on year. In contrast, the popular segment contributed 8.7 percent of net sales and saw a decline of 4.6 percent.

Commenting on the results, Managing Director and CEO Praveen Someshwar said the company delivered a resilient quarter while navigating policy headwinds in one of its most critical markets. He added that sustained momentum in the rest of the country and at the premium end of the portfolio reinforces confidence in long term growth. United Spirits continues to invest behind brands such as McDowell’s, Royal Challenge, Signature, Johnnie Walker and Black Dog to strengthen its market position. Shares of the company closed marginally lower at ₹1,318.55 on the BSE following the results.

Cocoa Price Shock Pushes Indian Consumers to Candies as Local Brands Outpace Global Chocolate Makers

Business

SnackTeam

January 21, 2026

India’s confectionery market saw a clear shift in consumer behaviour in FY25 as soaring cocoa prices squeezed chocolate consumption and opened the door for local candy makers to gain ground over global giants. Companies such as Mars, Mondelez, Perfetti Van Melle and Hershey reported their weakest India performance since the pandemic, weighed down by higher input costs and aggressive competition from regional players.

Cocoa prices surged sharply in 2024 and early 2025, peaking near $12,000 per tonne compared to a long-term average of around $2,500. This forced multinational chocolate brands to raise prices or reduce pack sizes, making chocolates less affordable for price-sensitive consumers. As a result, shoppers gravitated towards cheaper alternatives, particularly sugar confectionery and hard-boiled candies.

Industry executives say hundreds of regional manufacturers capitalised on this opportunity by flooding local markets with low-priced candies, offering retailers higher margins and steep trade discounts. This intensified competition in general trade channels, directly impacting volumes for large multinational brands. Mondelez and Perfetti each reported a 2 percent decline in India sales during FY25, Hershey’s growth remained flat, while Mars saw only marginal growth of about 2 percent.

At the same time, domestic players scaled rapidly. Prayagh Consumer, which sells Cintu candies, crossed ₹900 crore in revenue with double-digit growth during the year. DS Foods expanded its Pulse candy brand to nearly ₹750 crore in sales, supported by strong distribution and flavours rooted in Indian tastes. Executives point to a broader shift in consumer preference towards familiar flavours and nostalgic formats, especially during periods of economic pressure.

India’s confectionery market is estimated at around ₹25,000 crore, split evenly between chocolates and sugar confectionery. While chocolate consumption per capita remains low at about 200 grams annually, demand has begun to stabilise in recent months as cocoa prices cooled to nearly $5,000 per tonne. With costs easing and pricing resetting, global players expect gradual recovery, even as local brands continue to strengthen their foothold.

Livspace Appoints Ex-Myntra CFO Abhishek Gupta to Lead Financial Strategy and Growth

Business

SnackTeam

January 20, 2026

Home interiors and renovation platform Livspace has strengthened its leadership bench with the appointment of Abhishek Gupta as Chief Financial Officer, a move that comes as the company sharpens its focus on scale, governance and long term value creation.

Gupta will be responsible for steering Livspace’s financial strategy, overseeing planning and controls, and supporting business transformation initiatives as the company expands its footprint in India and overseas markets. He will also play a central role in reinforcing corporate governance frameworks as the organisation matures.

With more than 20 years of experience across consumer, retail and digital-first businesses, Gupta brings a track record of building finance functions in high-growth environments. He joins Livspace from Myntra, where he served as CFO and was closely involved in managing financial discipline during phases of rapid expansion, technology investments and category diversification.

Before Myntra, Gupta held senior finance leadership roles at Flipkart, contributing to the ecommerce major’s scaling journey, and earlier worked with multinational companies including Unilever, Abbott and ITC. His career spans FMCG, healthcare, retail and online commerce, offering a blend of operational finance and strategic oversight.

Livspace founder and CEO Ramakant Sharma said the appointment reflects the company’s need for stronger financial depth as it moves into its next phase. As Livspace continues to build a more integrated home interiors platform, Sharma noted that financial clarity and execution will be critical to sustaining growth and improving unit economics.

A Chartered Accountant by training, Gupta is expected to work closely with the leadership team on capital allocation, cost structures and long-term planning. His appointment signals Livspace’s intent to professionalise further as competition intensifies in the home renovation and interiors space, driven by rising urban demand, increased digital adoption and greater consumer spending on home improvement.

Founded in 2014, Livspace operates across multiple cities and offers end-to-end home design and renovation solutions. The company has raised capital from global investors and continues to invest in technology, supply chain integration and design services to strengthen its market position.

Nothing Before Coffee revamps flagship Jaipur store with Gen Z-led brand refresh

Business

SnackTeam

January 20, 2026

Nothing Before Coffee has relaunched its flagship Jaipur outlet, marking a strategic reset for the homegrown café chain as it sharpens its focus on India’s Gen Z consumer. The store, where the brand first opened its doors in 2017, has been redesigned following extensive consumer research and reflects a broader brand transformation underway across the network.

The Jaipur flagship now serves as a blueprint for NBC’s next phase of growth. The refreshed identity introduces a new visual language built around bolder colours, flexible layouts and locally inspired design cues. Elements such as star-shaped door handles, patterned tiles and cultural frames have been incorporated to retain an Indian sensibility while appealing to younger, urban audiences who value individuality and self-expression.

According to the company, the redesign moves NBC cafés beyond being transactional coffee spaces. The updated format positions stores as social hubs that encourage longer dwell time, comfort and community, factors increasingly influencing café choice among younger consumers. The revamp also aligns with shifting consumption patterns, where experiential retail is playing a growing role in food and beverage formats.

The updated colour system, led by signature blues, pinks and coral tones, is paired with expressive typography and modular design grids that allow the format to scale across different store sizes and cities. In-store messaging and visual touchpoints have also been refreshed to improve brand recall and create consistency across physical locations.

Akshay Kedia, co-founder of Nothing Before Coffee, said the relaunch reflects how the brand’s audience has evolved over the years. He noted that while the visual identity has changed, NBC’s core focus on product quality and accessibility remains intact as the company expands into newer markets.

The flagship relaunch comes at a time when Nothing Before Coffee is accelerating its presence across multiple Indian cities, including tier II locations. Industry data shows organised café chains continue to gain share as young consumers drive demand for affordable premium beverages and spaces designed around lifestyle rather than just consumption.

By reintroducing its first store with a contemporary lens, NBC is signalling its intent to stay culturally relevant while building a scalable café brand rooted in Indian youth culture.

Raymond Lifestyle Appoints Satyaki Ghosh as CEO to Drive Next Phase of Growth

Business

SnackTeam

January 20, 2026

Raymond Lifestyle has announced a key leadership transition as it gears up for its next phase of expansion and operational reset. The company has appointed industry veteran Satyaki Ghosh as its new chief executive officer, a move that signals sharper focus on execution, portfolio strength and long-term value creation across domestic and international markets.

Ghosh brings more than two and a half decades of experience across textiles, FMCG, fashion and consumer businesses, with leadership exposure spanning both business-to-business and consumer-facing segments. Prior to joining Raymond Lifestyle, he was associated with the Aditya Birla Group, where he served as CEO of the Cellulosic Fashion Yarn business at Grasim Industries. During his tenure, he worked across manufacturing-led and brand-driven verticals, handling complex, multi-market operations.

Within the Aditya Birla Group, Ghosh has also led the domestic textiles business and managed Thai Acrylic Fibre, giving him hands-on experience in running large-scale operations across geographies. Earlier in his career, he held senior leadership roles at L’Oréal India, including Director of the Consumer Products Division, where he was involved in scaling mass and premium beauty portfolios in a competitive retail environment.

Raymond Lifestyle said the appointment is part of a broader effort to strengthen its top management bench following recent structural and organisational changes within the group. Alongside Ghosh’s appointment, the company is also in the process of onboarding E.C. Prasad, who is expected to take charge as chief financial officer, subject to board approval.

The refreshed leadership team is expected to play a critical role as Raymond Lifestyle sharpens its focus on improving operational efficiency, expanding its lifestyle and apparel footprint, and unlocking growth opportunities across India and select global markets. The company believes the combined experience of the new leadership will help drive disciplined growth while reinforcing Raymond’s long-standing positioning in the premium lifestyle and fashion space.

Gully Labs Raises Rs 30 Crore Series A Led by Saama Capital to Scale Premium Indian Sneaker Brand

funding

Online Desk

January 20, 2026

Image of gali labs — Gully Labs Raises Rs 30 Crore Series A Led by Saama Capital to Scale Premium Indian Sneaker Brand

Indian sneaker label Gully Labs has closed a Rs 30 crore Series A funding round, marking a significant step in its ambition to build a homegrown premium footwear brand with global relevance. The round was led by Saama Capital, with continued participation from existing investor Zeropearl VC, according to people familiar with the development.

The fresh capital will be deployed to widen Gully Labs’ product range, scale its physical retail footprint across major Indian cities, and strengthen brand visibility in overseas markets such as the United States and the United Kingdom. The company is also sharpening its supply chain and customer engagement efforts as it prepares for its next phase of growth.

Founded in 2023 by Arjun Singh and Animesh Mishra, Gully Labs has positioned itself in the premium sneaker segment by drawing design inspiration from Indian cultural cues, regional art, and traditional craft narratives. The brand’s collections aim to blend contemporary sneaker silhouettes with locally rooted storytelling, targeting consumers looking for differentiation beyond mass-market footwear.

The Series A round also saw participation from a group of founders and angel investors with backgrounds across consumer brands, food, and education technology. These include Mokobara founder Sangeet Agrawal, Veeba founder Viraj Bahl, Unacademy co-founders Roman Saini and Gaurav Munjal, Genesis Luxury founder Sanjay Kapoor, and Edelweiss Mutual Fund MD and CEO Radhika Gupta.

Since raising its seed round in March 2025, Gully Labs has reported rapid traction. The company has scaled to an annualised revenue run rate of around Rs 30 crore, established offline stores in five Indian cities, and recorded early sales from international customers in the US and UK through cross-border channels.

Investors backing the brand said Gully Labs stands out for its clear premium positioning and early ability to build demand across both digital and physical retail formats. With the new funding in place, the company is now targeting an annualised revenue of Rs 100 crore by FY 2026–27, as it looks to cement its presence in India and build recognition in global sneaker markets.

Everstone to Exit Burger King India Operator Restaurant Brands Asia; Ajanta Pharma Family Office Emerges as Strategic Investor

Business

SnackTeam

January 20, 2026

Private equity investor Everstone is preparing to exit Restaurant Brands Asia, the master franchisee for Burger King in India and Indonesia, in a transaction that could bring in a new long term strategic backer and fresh capital for the quick service restaurant operator, according to people familiar with the development.

Everstone plans to sell its entire 11.26 percent holding in Restaurant Brands Asia through its investment arm QSR Asia Pte Ltd. Based on current market prices, the stake is valued at about $57 million. Restaurant Brands Asia is listed on Indian stock exchanges and currently has a market capitalisation of around $437 million.

Sources said the buyer is expected to be the family office of the promoters of Ajanta Pharma, which already has interests across healthcare and food businesses. The family office is likely to come in as a strategic investor and may inject up to Rs 8 billion into the company as part of the transaction. While the exact shareholding has not been finalised, discussions include the possibility of the family office eventually becoming a majority shareholder as other investors look to monetise their holdings over time.

Neither Everstone nor Restaurant Brands Asia responded to queries on the proposed deal. Representatives of the Ajanta Pharma family office also declined to comment.

The potential change in shareholding comes at a time when Restaurant Brands Asia is looking to strengthen its balance sheet and accelerate growth. The company informed stock exchanges last week that its board would meet on Tuesday to consider fundraising options, without providing further details.

Restaurant Brands Asia operates the Burger King brand across India and Indonesia and has been expanding its store network steadily in recent years. The business has faced pressure from rising costs, intense competition and the need for sustained capital investment to support store additions, supply chain upgrades and marketing.

If completed, the transaction would mark a full exit for Everstone, which has been invested in the business since its early years, and could signal a new phase for Restaurant Brands Asia under a capital provider with a longer investment horizon and a sharper focus on operational scale.

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